Former Bre-X Minerals chief geologist John Felderhof, the only person brought to trial in the company's multi-billion gold-salting fraud that was exposed a decade ago, has been found not guilty.
An Ontario Court of Justice judge acquitted Felderhof of eight charges of illegal insider trading and misleading investors, bringing an end to the lengthy criminal trial.
"It was always an open question, always up for debate, what John Felderhof knew or what he should have known, or what his role was," Globe and Mail writer Janet McFarland, who has followed the trial, told CTV Newsnet Tuesday.
"It was never crystal clear that he had any involvement in this case. I don't think very many people have made the argument, or shown much proof, that he was involved in the salting."
The decision comes seven years after Felderhof's trial began, and almost a year after closing arguments concluded last August.
Felderhof, 67, is now living in Indonesia. He was not present for Tuesday's ruling, but would be "relieved and pleased" by the decision, his lawyer Joe Groia said outside court. Source...
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